Gorman’s bank created a pilot program that divided financial advisers into “teams” and offered them financial incentives for selling securities-based loans — an apparent regulatory no-no because it could benefit the broker more than the client, The Post first reported in March.

“We’re interested because we were the test zone for this,” Galvin, Secretary of Massachusetts, told The Post in a phone interview.

Ian Bolland

A journalism graduate of Liverpool John Moores University. During his time at university, Ian spent time on work experience at local newspapers in Liverpool, Bolton and Wigan, and prior to that he did work for The Observer's 'fans verdict'. Ian also has interests in news, current affairs and business but mostly sport, including football, rugby league, cricket, golf and Formula 1, amongst others.